"TRADING IDEA FOR MONDAY (14.02.2011)"

"Winning isn't everything, but the will to win is everything." - Vince Lombardi

FNO DATA:

• High put option open interest build up of around 6.6 mn and 7.4 mn is seen at 5200 and 5100 strikes respectively, indicating that they will act as strong supports

• High call option open interest build up of around 6.3 mn and 6.1 mn is seen at 5400 and 5500 strikes respectively, indicating that they will act as strong resistances

• Nifty is trading at a premium of 7-8 points as compared to a discount of 8-9 points as of the previous trading week

• The PCR for Nifty based on open interest was up at 1.02 as compared to 1.11 as of the previous trading week

• The PCR for Nifty based on Volumes was down at 0.78 as compared to 0.91 as of the previous trading week

• Nifty Futures open interest saw a increase of around 9.88%

• In Index Futures FII’s were net sellers to the tune of Rs. 696 Cr with an open interest increase of around Rs. 2242 Cr as compared to net buying of Rs. 471 Cr with an open interest increase of around Rs. 1513 Cr as of the previous trading week

FOR TODAY: Both EU and US markets closed in green on Friday since Egypt crisis was over. All Asian markets are trading in green today morning. SGX Nifty is trading around 5350, 37 points up. All datas are also suggesting that NIfty may trade in a range between 5200-5400 (with expanded view, its 5100-5500) till any major changes. Today Nifty may open around 5340-50. Being 5369 is a resistance area, it may try to cross and hit 5389/5410. On the downside, if breaks 5300, it may hit 5277 and 5242 on the downside.